EnQuest, partners sign production sharing contracts in Indonesia

EnQuest, partners sign production sharing contracts in Indonesia

EnQuest, a leading independent oil and gas exploration and production company, has secured significant production sharing contracts (PSCs) in Indonesia. The contracts, signed with state-owned Pertamina and other partners, represent a substantial investment in the country's offshore energy sector.

The PSCs, which cover approximately 10,000 square kilometers, focus on acquiring 3D seismic data for exploration purposes, with a final phase dedicated to 4D seismic data acquisition for production monitoring. The survey is scheduled to commence in the fourth quarter of 2025 and is expected to last approximately eight months [1].

Kristian Johansen, CEO of TGS, a leading provider of energy data and intelligence, commented on the award of a large streamer contract for the project. "We are very pleased to have been awarded this significant streamer contract. We will acquire the survey with a purpose-built Ramform designed vessel, equipped with our proprietary GeoStreamer technology, ensuring delivery of high-quality data to the client, while acquisition efficiency is maintained at industry leading levels. With an acquisition period of approximately eight months, this contract secures utilization well into Q3 2026" [1].

These contracts are part of EnQuest's broader strategy to expand its presence in the Asia-Pacific region, particularly in Indonesia, which is one of the world's largest oil and gas producers. The company's focus on advanced data and intelligence solutions, such as those provided by TGS, highlights its commitment to leveraging technology to enhance exploration and production efficiency.

The contracts are expected to have a positive impact on EnQuest's financial performance, providing a steady stream of revenue and contributing to its overall growth strategy. The company's ability to secure these contracts underscores its strong relationships with key players in the Indonesian energy sector.

References:
[1] https://www.euro-petrole.com/tgs-awarded-large-streamer-contract-offshore-indonesia-n-i-28891